Selbyville, Del., Oct. 29, 2024 (Globe Newswire) — The smart motor market will be valued at $2.3 billion in 2023 and $4.5 billion by the end of 2032, according to a recent study from Global Market Insights. is predicted to reach a value of Co., Ltd.
According to SE for All, SDG 7.3 aims to double the rate of global energy efficiency improvement by 2030. As awareness of environmental issues and the need to reduce carbon emissions increases around the world, industry is prioritizing the implementation of energy-efficient solutions. Equipped with advanced technologies such as cruise control and intelligent control systems, intelligent engines are significantly more energy efficient than conventional engines. By optimizing energy use and minimizing waste, smart motors not only reduce operating costs for businesses, but also contribute to sustainability goals by reducing carbon emissions.
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A key market trend is the move towards outsourcing specialized functions. The company has decided to outsource some of the tasks related to smart engine deployment and maintenance. This strategic shift allows companies to leverage expertise, scalability, and cost efficiency while focusing on their core business. Outsourcing specialized functions can also ensure compliance with evolving regulations and standards, reduce risk, and make operations more efficient. With the increasing sophistication of smart motor technology, the outsourcing trend is expected to further expand, driving market growth and innovation.
The smart motor market is segmented on the basis of voltage, industry, and region.
The 25V to 36V class segment will continue to grow until 2032, as smart motors operating in this voltage range offer a balanced combination of power and precision, making them ideal for a variety of applications in different industries. It’s possible. From small machines to medium-sized industrial equipment, intelligent 25V to 36V motors ensure optimal performance while reducing energy consumption and running costs. Demand for smart motors is expected to increase significantly in this voltage segment as the industry prioritizes energy efficiency and sustainability, which will drive automation and industrial processes.
The smart motor market in the energy and utilities sector is expected to grow rapidly through 2032 as smart motors help improve efficiency, reliability, and sustainability. These motors are used in many applications, including pumps, compressors, fans, and electrical infrastructure and processes essential to energy production and distribution. Using advanced sensor technology and predictive analytics, smart motors enable predictive maintenance, reduce downtime, and optimize energy consumption. Additionally, the integration of smart grid technologies will further improve the efficiency of energy distribution systems, leading to cost savings and environmental sustainability.
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The European smart motor market is expected to expand at an unprecedented rate until 2032 due to strict regulations, energy efficiency initiatives, and technological advancements. Countries such as Germany, France and the UK are at the forefront of this digital transformation, leading the way in modernizing their manufacturing and industrial sectors. With a focus on sustainability and innovation, European industry is moving towards intelligent engine solutions to improve competitiveness and reduce environmental impact. Additionally, government incentives and funding programs are promoting the adoption of smart motor technology, creating a favorable environment for market growth.
Smart motor market players
Companies such as ABB Ltd., Dunkermotoren GmbH (Ametek Inc.), Fuji Electric Co., Ltd., General Electric, Rockwell Automation, Schneider Electric SE, and Siemens AG are working in the smart motor industry.
The Smart Motor Market research report includes detailed coverage of the industry with revenue (USD Billion) estimation and forecast from 2018 to 2032 for the following segments:
By market and voltage
Maximum 18V19V-24V25V-36V48V or more
By market and industry
IndustrialAutomotiveAerospace and DefenseEnergy and UtilitiesHome AppliancesHealthcareOther
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Global Market Insights Inc., headquartered in Delaware, USA, is a global market research and consulting services provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports provide our clients with insightful insights and actionable market data specifically designed and presented to support strategic decision making. These comprehensive reports are designed with unique research methodologies and are available for key industries such as chemistry, advanced materials, technology, renewable energy, and biotechnology.
